Ram Realty Advisors Completes Sale of Ground Leased Outparcels at Shops of Botanica
(Miami, FL – August 10, 2021) – Ram Realty Advisors is pleased to announce the sale of Chili’s, Racetrac, and PDQ outparcels at the Shops of Botanica, a 137-acre, mixed-use retail and apartment development in Miami, FL. The property is located adjacent to Zoo Miami along the south side of SW 152nd Street about ¼ mile west of the Florida Turnpike. A majority of the retail development was completed in 2020 along with a multi-tenant outparcel, and a 158,000 SF Walmart is currently under construction and set to open in the near future.
The outparcels were sold to three separate private buyers for just over $13 million total.
The Shops of Botanica represent Ram’s signature retail placemaking that deliberately enhances the surrounding neighborhood and the mixed-use communities they lie within.
“Across our mixed-use assets, Ram is thoughtful and strategic about what to bring to our developments that will authentically fill a niche for the benefit of those living and working in the area,” says Kerry-Ann Wilson, Vice President-South Florida for Ram. “These easily accessible and very popular outparcels were quite appealing to the buyers.”
The sales were handled by Patrick Wagor of Atlantic Retail and Michael Zimmerman of Ground and Space.
Ram Realty Advisors LLC acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $3.2 billion of capital. Ram and its predecessor entities were founded in 1978. The company is headquartered in Palm Beach Gardens, Florida, and has offices in Tampa, and Charlotte and Chapel Hill, North Carolina. www.ramrealestate.com
Kelly Owens Alchemy Communications Group firstname.lastname@example.org
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Kerry Ann Wilson
Ram Realty Advisors